RBNZ to press ahead with plans to carve out property investment lending

Fri, 29 May 2015

By Paul McBeth May 29 (BusinessDesk) - The Reserve Bank of New Zealand is pressing ahead with proposals to create a new asset class for lenders, which will let it target Auckland property investors as a means to take the heat out of the market in the country's biggest city, despite opposition from the majority of submissions. The central bank will go ahead with plans requiring lenders to carve out borrowing for property investors as an asset class sub-set, requiring higher levels of capital, and defining those borrowers who aren't owner-o...

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